Inactive Instrument

Parsley Energy, Inc.

Equities

PE

US7018771029

Oil & Gas Exploration and Production

Parsley Energy, Inc. Announces Management Changes

January 10, 2018 at 02:42 am IST

On January 9, 2018, Bryan Sheffield, Chairman of the Board and Chief Executive Officer of Parsley Energy, Inc. informed the Board of Directors of the company that he intends to step down from his position as the company's Chief Executive Officer effective January 1, 2019 . The Board, upon the recommendation of its Nominating and Governance Committee (the “Nominating and Governance Committee”), has approved a succession plan pursuant to which, as of the Transition Date, Mr. Sheffield would remain with the company in the role of Executive Chairman of the Board, and Matt Gallagher, currently the company's President and Chief Operating Officer, would succeed Mr. Sheffield as the Company's Chief Executive Officer and be appointed as the company's President and Chief Executive Officer. Until such time, Mr. Gallagher will continue to serve as the Company's President and Chief Operating Officer.

On January 9, 2018, the Board, upon the recommendation of its Nominating and Governance Committee, appointed Matt Gallagher to the Board as a Class III director, with a term expiring at the 2020 annual meeting of stockholders, and until he is either re-elected or his successor is elected and qualified. As an employee of the Company, Mr. Gallagher does not meet the independence requirements under the rules of the New York Stock Exchange and the Company's independence standards and will not serve on any committees of the Board. Through December 31, 2018 Mr. Sheffield continues to serve as Chairman and Chief Executive Officer.

Mr. Gallagher continues to serve as President and Chief Operating Officer. January 1, 2019 (i.e., the Transition Date) Mr. Sheffield steps down as Chief Executive Officer but remains as an employee and officer of the Company in the role of Executive Chairman. Mr. Gallagher succeeds Mr. Sheffield as Chief Executive Officer and is appointed as the Company's President and Chief Executive Officer.

The offices of Chairman and Chief Executive Officer are separated. December 31, 2019 Mr. Sheffield is expected to retire as an employee and officer of the Company and continue serving as Chairman of the Board thereafter.

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Parsley Energy, Inc. Announces Executives Resignations	13/21/13	CI
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Parsley Energy, Inc.(NYSE:PE) dropped from Russell 1000 Index	12/21/12	CI
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Parsley Energy, Inc.(NYSE:PE) dropped from Russell 2500 Index	12/21/12	CI
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Parsley Energy, Inc.(NYSE:PE) dropped from Russell Small Cap Completeness Index	12/21/12	CI
Parsley Energy, Inc.(NYSE:PE) dropped from Russell Small Cap Comp Value Index	12/21/12	CI
Parsley Energy, Inc.(NYSE:PE) dropped from Russell 2500 Value Index	12/21/12	CI
Parsley Energy, Inc.(NYSE:PE) dropped from Russell 3000 Value Index	12/21/12	CI
Parsley Energy, Inc.(NYSE:PE) dropped from Russell Midcap Value Index	12/21/12	CI
Parsley Energy, Inc.(NYSE:PE) dropped from Russell 3000E Index	12/21/12	CI
Parsley Energy, Inc.(NYSE:PE) dropped from Russell 3000E Value Index	12/21/12	CI
Parsley Energy, Inc.(NYSE:PE) dropped from Russell 2500 Dynamic Index	12/21/12	CI
Parsley Energy, Inc.(NYSE:PE) dropped from Russell Midcap Dynamic Index	12/21/12	CI
Parsley Energy, Inc.(NYSE:PE) dropped from Russell 1000 Value-Dynamic Index	12/21/12	CI
Parsley Energy, Inc.(NYSE:PE) dropped from Russell 2500 Value-Dynamic Index	12/21/12	CI
Parsley Energy, Inc.(NYSE:PE) dropped from Russell Midcap Val-Dynamic Index	12/21/12	CI
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Company Profile

Parsley Energy, Inc. is a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin. The Company's properties are primarily located in the Midland and Delaware Basins, where it focuses on horizontal development drilling and target various stacked pay intervals in the Spraberry, Wolfcamp, Upper Pennsylvanian (Cline) and Atoka shales. As of December 31, 2016, it had an average working interest of 87% in 166 gross (146.7 net) horizontal wells, of which 151 gross (132.4 net) are in the Midland Basin. As of December 31, 2016, the Company operated seven horizontal rigs and three vertical drilling rigs.

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Oil & Gas Exploration and Production

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